Comments on: Why Crime Is Higher When It’s Hot & Why Economics Fails Us

By: Industrial Pumps

Industrial Pumps — Fri, 31 Jul 2009 19:32:18 +0000

Very interesting. I tend to agree with Roger, there can be very many factors to this. It’s true that many economies in warmer climates are weaker and it’s also true that when juveniles are out of school they are more likely to commit crimes. Definitely a number of factors contribute to the crime rate.

By: Roger

Roger — Fri, 31 Jul 2009 07:15:23 +0000

Ah, the difference between correlation and causation; always a good topic to discuss when it comes to economics. So often, people attempt to imply that because point (A) and point (B) are both true, then (A) must cause (B), simply because they seem to be correlated. However, it’s possible that there’s a third point (C) that causes both (A) and (B). Or that completely unrelated point (D) is the unseen cause of (B). Or… well, you get my drift.

Unfortunately, I think Rob is right; headlines like ‘Hot Weather Increases Crime Rate’ get more attention than ‘Crime Rates and Warmer Weather Seem to be Positively Correlated; Further Studies Needed’. And when a study grabs headlines, the economists involve can gain fame and possibly more money as a result. Not much incentive to object, sad to say.
Roger´s last blog ..Future Value of Regular Contributions

By: Live for Improvement

Live for Improvement — Thu, 30 Jul 2009 22:55:58 +0000

If I had to guess, I would say that many crimes are commited by juveniles and during the summer they have nothing better to do, because they are not in school.
Live for Improvement´s last blog ..Beware of the "Cash for Clunkers" Bill

By: Dave C.

Dave C. — Thu, 30 Jul 2009 20:59:21 +0000

There is also the latest bit of research that indicates that countries in very hot climates tend to have poorer economies. I didn’t read much on it, so I don’t know how well the study was done or how reliable the correlation is.
Dave C.´s last blog ..What Are Warrants: Or Why Is Warren Buffet So Smart?

By: SMBA

SMBA — Thu, 30 Jul 2009 20:58:14 +0000

Nice post! Of course politically the option to do nothing becuase “we dont fully understand the consequences” is not really viable.

But still I think very interesting and good way to think about this.

By: the weakonomist

the weakonomist — Thu, 30 Jul 2009 18:54:35 +0000

Rob, BINGO!

Not only do they love their influence, they think their science is THAT GOOD.

By: Rob Bennett

Rob Bennett — Thu, 30 Jul 2009 18:31:17 +0000

I‘m not criticizing economics, I’m criticizing those that are relying too much on economists.

I understand the point being made, which is legitimate. But at some point the economists incur a responsibility to speak up and object to how their stuff is being misused. They are the ones in the best position to know and I would think that their objections (if made loudly enough) would be heard. Perhaps they are not objecting loudly enough because they sort of like it that their work is having influence, even if it is being misused?

Rob
Rob Bennett´s last blog ..“My Hope Is to Persuade You to Steer the Indexing Revolution to a More Promising Path”